week 2 multiple choice work

week 2 multiple choice work

Question
	
1.(TCO 1) 3M inventor David Windorski's challenge was to design new products for college students. The first step in solving this challenge was to(Points : 3) satisfy students’ studying needs.
advertise the new products he had invented.
use word of mouth to tell college students about his ideas.
discover students’ studying needs.
ask 3M to support him while he pursued his new ideas.














Question 2. 2.(TCO 1) The Daniels College of Business at the University of Denver offers an outstanding business school education. Cali pays the tuition to attend Daniels and earns her MBA with a concentration in supply chain management.Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange? (Points : 3)

No, because the university is a private one
Yes, because the university is profitable
Yes, because paying tuition was exchanged for knowledge that directly led to Cali’s fulfilling new job
No, because money was exchanged
No, because the school did not provide Cali with a product










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Question 3. 3.(TCO 1) The first objective in marketing is to (Points : 3)

discover the needs of prospective consumers.
discover the needs of competitors.
discover the needs of sellers.
satisfy the needs of regulators.
satisfy the desires of various segments.















Question 4. 4.(TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points : 3)

moms of school-age children.
business people looking for a quick snack.
business travelers.
teenagers.
seniors.















Question 5. 5.(TCO 6) Which of the following would a marketer use as a synonym for controllable marketing mix factors? (Points : 3)

The five external environmental forces
Macromarketing forces
The five Cs
The four Ps
Price, product, production, and promotion




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Question 6. 6.(TCO 1) _____ is the money left over after a business firm's total expenses are subtracted from its total revenues. (Points : 3)

Shareholders' equity
Profit
Inventory turnover
Contribution margin
Asset leverage















Question 7. 7.(TCO 1) Which of the following statements about strategy is most true? (Points : 3)

By following the best strategy, an organization can be all things to all people.
Once an organization is focused and has developed goals, it can then develop its strategies.
Strategic direction must be explicit in order to be set by organizations.
Strategy is an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals.
All of the above















Question 8. 8.(TCO 1) A key role of the marketing department is to (Points : 3)

allocate financial resources across business units.
set the overall mission of the company.
provide talent management services.
look outward.
assess global political situations.















Question 9. 9.(TCO 1) Often used interchangeably with vision, a(n) _____ statement frequently has an inspirational theme. (Points : 3)

point of difference
mission
business map
internal situation analysis
CEO’s annual















Question 10. 10.(TCO 1) Market share is the ratio of sales revenue of the firm to the total sales revenue of all _____, including the firm itself. (Points : 3)

firms in the industry
firms in alternative industries
firms surveyed by the U.S. government
firms sharing in marketing principles
domestic firms 















Question 11. 11.(TCO 1) Step 2 in the planning phase of the strategic marketing process is (Points : 3)

the situation analysis.
the market-product focus and goal setting.
the marketing program.
implementation.
obtaining resources.















Question 12. 12.(TCO 1) In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super-heavy-weight market motorcycles with engine capacity of 850 cubic centimeters or more collapsed from more than 40% in the mid-1970s to 23% in 1983. However, by 1989, Harley-Davidson controlled some 65% of the U.S. market, and both in the United States and overseas markets, the company won't be able to meet demand for years. From a marketing perspective, what was most likely the first step in Harley-Davidson's resurgence?(Points : 3)

Development of a new mission statement and subsequent marketing strategy
Repositioning its product in the minds of motorcycle buyers
Performing a SWOT analysis
Seeking new markets for motorcycles both in the United States and in foreign markets
Improving the quality of its product and communicating this to motorcycle buyers















Question 13. 13.(TCO 1) To provide quick access to topics, a well-organized marketing plan should begin with (Points : 3)

an executive summary.
the strategic focus.
a table of contents.
a situation analysis.
the market-product focus.















Question 14. 14.(TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 3)

environmental trending.
organizational scanning.
environmental scanning.
a SWOT analysis.
acquisition scanning.















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living standards
social class
demographic characteristics
dialect
laws
Question 15. 15.(TCO 5) The social forces of the environment include the _____ of the population and its values. Changes in these forces can have a dramatic impact on marketing strategy. (Points : 3)















Question 16. 16.(TCO 5) Generally, the U.S. population is becoming (Points : 3)

smaller, younger, and more diverse.
smaller, older, and more diverse.
larger, older, and less diverse.
larger, younger, and more diverse.
larger, older, and more diverse.















Question 17. 17.(TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called (Points : 3)

changing values.
multidimensional consumption.
buyer excellence.
purchasing excellence.
value consciousness.















Question 18. 18.(TCO 5) _____ is a time of slow economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend. (Points : 3)

A panic
Inflation
An escalation
A recession
A depression















Question 19. 19.(TCO 5) Very recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of identification tags, called RFID tags, that are currently used in industry. This is an example of how _____ is applied to industry. (Points : 3)

regulations
technology
laws
social change
economics















Question 20. 20.(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales. (Points : 3)

Pure competition
Cross-market competition
Oligopoly
Monopolistic competition
Monopoly















Question 21. 21.(TCO 6) In which stage in the consumer purchase decision process would a consumer ask, "Is installation included in the price of this HDTV?" (Points : 3)

Problem recognition
Information search
Alternative evaluation
Purchase decision
Evaluation















Question 22. 22.(TCO 6) Customer satisfaction is an important focus for marketers because (Points : 3)

marketing research is an inexpensive process.
the financial value of a retained customer can be significant.
customer value is a nonquantifiable statistic.
attracting new customers is easier than keeping old ones.
a market development strategy is preferable to a market penetration strategy.















Question 23. 23.(TCO 6) _____ buy raw materials and parts that they reprocess into the finished goods they sell. (Points : 3)

Retailers
Wholesalers
Manufacturers’ agents
Manufacturers
Ultimate consumers















Question 24. 24.(TCO 6) Which of the following is characteristic of the organizational buying process? (Points : 3)

Multiple parties participate in purchase decisions.
Negotiation between buyers and sellers is commonplace.
Online buying over the Internet is widespread.
Buying objectives and criteria are typically spelled out.
All of the above















Question 25. 25.(TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3) _____, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. (Points : 3)

taste of the buyer
personal friendship with sales representative
ability to meet required delivery schedules
current mood of the buyer
opinion of the firm's senior management